The so-called "single economy" is booming in China. The large unmarried population has driven the sales of many new business ideas in the country, and this year's pandemic has ignited the demand for self-heating food.
Eat anytime, anywhere-this idea became popular this year. Chain hotpot restaurants in China have launched self-heating hotpots that are easy to make at home. The mini meal is full of meat and vegetables, just pour some water to boil.
Well-known domestic hot pot restaurants such as Haidilao, Xiaolongkan, and Xiaofeiyang have now launched self-heating snacks. At the same time, Haidilao completed its small basin production line in March. Since then, production has had to increase from 20,000 per day to 130,000 per day to meet demand, Haidilao said in an interview with Beijing Business Daily.
"Most consumers are young people born after 1995-the so-called Generation Z. Self-heating products are very popular on social media. You can see many promotions aimed at them in TV series and live broadcasts, and many Consumers are willing to try," said Sun Qi, director of integrated services at convenience store chains in China.
"The interesting thing is that these consumers will not just buy one bowl — they will buy two or more bowls to compare the tastes of different brands," Sun said.
A report by consulting firms Kantar Worldpanel and Bain & Company illustrates the extent to which the pandemic has prompted people to hoard food, especially packaged foods-sales in the first nine months of this year have increased by more than 7%.
"The rise of these products really caters to the growing needs of these consumers, because these consumers want to enjoy life without having to go to restaurants with a large group of people, but to consume these products anytime, anywhere," said Jason Yu, managing director. Kantar Worldpanel, a company engaged in consumer knowledge and insight. "As more and more brands enter the market. Competition will become more intense."
“So innovation is really the key to ensuring that any brand entering the industry actually stays ahead of the competition,” he added.
Copyright © 2020 CGTN. Beijing ICP No. 16065310-3
Copyright © 2020 CGTN. Beijing ICP No. 16065310-3
Copyright © 2020 CGTN. Beijing ICP No. 16065310-3